Axis Financial Results Points to Market SlowdownBy: John Honovich, Published on Oct 17, 2008
Axis 3rd quarter results demonstrate signs of a market slowdown, most strongly in Europe but with leading indicators globally.
- Worldwide video growth decreased from 37% in Q2 to 32% in Q3.
- Europe video growth plummeted from 37% to 11%. Axis explained that, "A number of European markets have been characterized by a degree of caution and have displayed a slower growth rate for network video during the quarter."
- US video growth slowed from 36% to 32%.
- Axis admitted that the transition from analog to IP has been slowed by the financial crisis
- Axis admitted that projects are being delayed.
- The economy is pulling down the IP video market resulting in lower growth in 2009.
- Axis' competitive differentiation is dimishing causing its dominance in the IP camera market to decrease.
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